All Forum Posts by: James Walker

Hi James, 

IS this for an investment property? If so, we have several ways we can get this done for you. 

Jerry Starr | Insource Funding | 800-805-3391
NO-Doc Rental Loan

Based on what you've described, seller financing or having someone else buy the house and lease it to you with a purchase option until youre able to qualify are likely your two best options. Having someone else be a coborrower on the loan with you to bring the needed income could be an option, but it sounds like your credit will be an issue. 

Hard money is only offered on investment properties in 99.99% of situations - since this will be owner occupied, that is basically not on the table. 

Seller financing is a great option in scenarios like this, but this pathway is dependent on what the seller needs. If they want their cash now, this can be tougher to execute. There are a few ways to structure the paper so that it can be sold quickly (within 6-12 months or so) without a huge discount, but ultimately, if the seller wants their money within the first year after selling financing, theyre going to take some kind of a haircut. 

I buy seller finance notes in SC and also lend in SC. Give me a call if you want to walk through the ins and outs of seller financing so you can present the idea to the seller. 

Based on what you've described, seller financing or having someone else buy the house and lease it to you with a purchase option until youre able to qualify are likely your two best options. Having someone else be a coborrower on the loan with you to bring the needed income could be an option, but it sounds like your credit will be an issue. 

Hard money is only offered on investment properties in 99.99% of situations - since this will be owner occupied, that is basically not on the table. 

Seller financing is a great option in scenarios like this, but this pathway is dependent on what the seller needs. If they want their cash now, this can be tougher to execute. There are a few ways to structure the paper so that it can be sold quickly (within 6-12 months or so) without a huge discount, but ultimately, if the seller wants their money within the first year after selling financing, theyre going to take some kind of a haircut. 

I buy seller finance notes in SC and also lend in SC. Give me a call if you want to walk through the ins and outs of seller financing so you can present the idea to the seller.